November 2006/2

RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.

Stephen Way has resigned from HCC Insurance Holdings, the company he founded in 1974, following a company investigation over its stock-option granting practices.

Oxygen Holdings plc, the London market intermediary backed by high profile figures such as ICAP founder Michael Spencer and former Marsh president Bob Clements, has continued the expansion of its broking operation with the acquisition of the business of S

Bermudian (re)insurer Max Re Capital Ltd today (14 November) announced that acting chairman and CEO W Marston Becker has been permanently appointed to the position.

German reinsurer Hannover Re reported a “gratifying” third quarter result in which the group posted net income of EUR123.5mn.

Troubled Bermudian reinsurer PXRE reported a small third quarter net profit last week (8 November) as it said it continues to look for alternatives to what looks to be an increasingly inevitable slide into run-off.

American International Group (AIG), the world’s largest insurance company by value, was the latest firm to unveil strong third quarter results on the back of a benign 2006 claims environment.

Fears that the insurance industry would find itself penalised in the US courts if they declined Hurricane Katrina related payments were again soothed last week when a federal judge said State Farm should not have to pay more than a policyholder’s actual l

The legal wrangle surrounding contract wordings for the electronic claims file (ECF) has been resolved as the Market Reform Group (MRG) has reached agreement with key market bodies on the procedural rules which will underpin the use of the Insurers' Marke

Zurich Financial Services (ZFS) has appointed the head of Royal Bank of Scotland (RBS) Insurance Annette Court to become the chief executive of its European General Insurance operations.

Hiscox plc’s planned sidecar Panther Re came closer to fruition today (13 November) with rating agency Moody's Investors Service assigning a provisional (P)Baa3 rating to the $72mn senior loans and a provisional (P)Ba2 rating to the $144mn mezzanine loans

Bermudian-based energy mutual Oil Casualty Insurance Ltd (OCIL) was stripped of its key A- rating by Standard & Poor’s (S&P) on 6 November.